Namahe

Namahe is a blockchain based supply chain that uses AI to maximize efficiency and has a socially responsible approach to the business.

How it works:

The company’s bigger vision is to eliminate child labor, poor working conditions and poor wages in the countries where sweatshop workers at the end of long manufacturing chains create products for the first world countries.

Namahe is a platform that connects all participants of a supply chain, no matter what the industry is, to make the whole process a lot easier, safer and more ethical. Experience and previous history of any participant of the platform is readily available, so that users can trade on the marketplace and find reliable suppliers and manufacturers.

Artificial intelligence built in the system will aim to eliminate ineffectiveness in supply chains. It detects delays that can be improved upon, external events that can create a problem or markers that indicate fraud, and alerts those users to whom it may concern.

All interactions between the participants of the deal are conducted under a smart contract and are digitally traceable in case a dispute will arise. Payments are made in a variety of currencies, NMH being the preferred one.

The company plans to start their expansion from the clothing industry, the one in which different parts of a supply chain can be separated by distance, language and culture, which makes the whole process difficult. This industry is also a good choice for a start, as poor working conditions on the far end of the supply chain make brands look for more ethical options. Namahe provides that.

Innovation:

This startup is both ethical and innovative. It improves the whole process of production and can serve as a tool for businesses to cut down costs and afford cutting down prices for consumers, while making quality of product and service much higher. But apart from that, Namahe will improve working conditions in third world countries because unethical employers will have to step up their game to keep themselves in the business.

Innovation score: High

Token value:

NMH token is a utility token of the platform. Not all transactions, however, are conducted using this token, the use of other cryptocurrencies is allowed. The company states that NMH is going to be given an advantage on the marketplace, supposedly by making discounts on NMH transaction fees. Considering the global scale and potential of the project, NMH can grow the transaction volume significantly.

Token value score: High

White paper:

The white paper Namahe presents shows a market overview, pointing to potential that lays in the clothing industry as the first industry to start marketing in. It explains the platform and its architecture, provides a comparison with competing firms, talks a bit about the company’s business model and comments on promotion strategy in great detail.

White paper score: High

Roadmap:

In the end of 2018 the company will start developing the platform. Alpha version of MVP will be released in the first quarter of 2019 and will be live in the second. The second half of the year is dedicated to developing the marketplace and monthly updates of the platform. In the first quarter of 2020 a beta version of the marketplace will be released, and by the end of the year, the platform should be live.

Roadmap score: High

Business model:

Namahe has a well thought out business model and customer acquisition plan. It is going to integrate with Amazon, Etsy, EBay and Alibaba to leverage existing networks to promote their own.

The company outlines the main selling points they are going to use for acquiring different types of customers, brands, suppliers and manufacturers. These range from joint press releases with brands and marketing via a number of channels to personal outreach and leveraging the influence of NGOs that are interested in ethical working conditions.

The company is going to sell advertising on the platform. Team members informed us that licensing businesses to use their software in their own business process is a big part of the company’s income.

Business model score: High

Team:

One of the co-founders had experience of working with a large South Asian clothing retailer, Gap Inc and is currently a category leader at Amazon Fresh. The other one has over 15 years of experience in banking sector. Data scientist has been doing his job for nearly 8 years, IoT and Wireless Technology Specialist occupies his post for years. The last two team members do not have it mentioned in their LinkedIn profiles that they work for Namahe. The support informed us that they are working for them as freelancers.

The highlights of the advisory board include a former VP of the largest generator of renewable energy in Europe, a social entrepreneur and event speaker, an ex-Director of Gap Inc, and specialists in law and finance.

Team score: High

Competitors:

Namahe includes analysis of the competition in the white paper. Of all those they call potential competitors, no platform uses AI and all of them are niche-specific, while Namahe only starts with clothing and will expand into other industries. Considering its vast value proposition, it seems this project has good odds of growing fast.

Competitors score: High

Overall thoughts:

Namahe creates value for a whole set of people across the world, providing a tool for entrepreneurs to organise their activity in the most efficient and safe way. It has an outstanding team and marketing strategy. NMH can become a good investment in your portfolio.